Rollout is set to begin with remittance optimisation before expanding into banking, investments and bill payments, the companies said on April 2.
NEAR AI architecture centers on user-owned, verifiable AI./Courtesy of NEAR AI.
INDIA –
Abound, a financial app for Indians living abroad backed by The Times of India Group, said it plans to develop an AI-based financial automation system with NEAR AI aimed at helping non-resident Indians manage cross-border finances more efficiently.
The planned service, described by the company as an “AI Financial Autopilot,” would extend Abound’s offering beyond remittances into a wider set of financial functions. These include monitoring exchange rates, overseeing bank balances, tracking recurring bills and supporting selected investment-related decisions and actions.
Abound said the initial rollout will focus on remittance optimisation, including transfers executed when exchange rates meet user-defined targets. Later phases are expected to add functions tied to NRE and NRO accounts, fixed deposits, recurring payments such as EMIs, utilities and school fees, as well as a unified view of assets held across jurisdictions.
The company said NEAR AI will provide the underlying AI infrastructure for the project. Abound added that the system is being built with user approvals for critical actions, protections for sensitive financial data and tools allowing users to review AI-driven activity.
According to the company, Abound currently serves more than 800,000 NRIs and has processed more than $300 million in remittance volume. It said the broader strategy is to expand from remittances into a wider cross-border financial services offering that includes payments, wealth management and financial planning.
Dan Yoo
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